Ladbrokes owner ‘could face big penalty’ as it reveals talks with prosecutors

A bribery investigation into the owner of Ladbrokes could end in a “substantial financial penalty”.
By Greg Wright
Published 31st May 2023, 08:47 BST
Updated 31st May 2023, 09:26 BST

Entain said it is in talks with the Crown Prosecution Service (CPS) and admitted misconduct “may have occurred”. The two sides are trying to reach a so-called deferred prosecution agreement, which removes the threat of prosecution for a company if it lives up to certain conditions.

The case is a bribery investigation into Entain’s former subsidiary in Turkey. Authorities opened a probe into its suppliers in 2019, expanding it less than a year later to look at wrongdoing within the Entain group itself. Entain sold the Turkish-facing online betting and gaming business in 2017.

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On Wednesday, Entain said it “acknowledges that historical misconduct involving former third party suppliers and former employees of the group may have occurred”. It said the investigation includes, but is not limited to, section seven of the Bribery Act. This means a company is guilty of an offence if it benefits by retaining business or an advantageous business condition from someone paying a bribe.

A nearly four-year bribery investigation into the owner of Ladbrokes could end in a “substantial financial penalty”. Entain said it is in talks with the Crown Prosecution Service (CPS) and admitted misconduct “may have occurred”.A nearly four-year bribery investigation into the owner of Ladbrokes could end in a “substantial financial penalty”. Entain said it is in talks with the Crown Prosecution Service (CPS) and admitted misconduct “may have occurred”.
A nearly four-year bribery investigation into the owner of Ladbrokes could end in a “substantial financial penalty”. Entain said it is in talks with the Crown Prosecution Service (CPS) and admitted misconduct “may have occurred”.

Barry Gibson, Chairman of Entain: “We are keen to achieve a resolution to what is an historical issue relating principally to a business that was sold by the group nearly six years ago. Entain has been through a period of extraordinary transformation since then, and has taken decisive action to be a best-in-class, responsible operator with outstanding corporate governance.

"The board and leadership teams have been overhauled, 100 per cent of our revenue is now from regulated or regulating markets, and our business model, strategy and culture have been reviewed, analysed, and stress-tested. We will continue to work closely with both the CPS and HMRC to ensure that this matter can be concluded as soon as is practical.”

Related topics:TurkeyHMRC